NSDL Q3FY25 Results Update

18 February 2025

• Financial Performance (Q3 FY25 vs Q3 FY24): National Securities Depository Limited (“NSDL”) reported total revenue of ₹391 Cr in Q3 FY25, reflecting a YoY growth of 16.2% from ₹337 Cr in Q3 FY24. This change was primarily driven by increase in revenue from depository service and banking services by y-o-y increase of 26.4% & 9.6% respectively. Profit Before Tax (PBT) stood at ₹110 Cr, marking a YoY increase of 34.3% from ₹82 Cr in Q3 FY24, mainly due to increased revenue. Profit After Tax (PAT) came in at ₹86 Cr, registering a 29.8% rise from ₹66 Cr in Q3 FY24. Earnings Per Share (EPS) for the quarter was ₹4.3, compared to ₹3.3 in Q3 FY24.
• Nine-Months Performance (9M FY25 vs 9M FY24): For the nine-month period ended December 31, 2024, NSDL recorded a total revenue of ₹1,141 Cr, up 13.3% YoY from ₹1,008 Cr in 9M FY24. PBT for 9M FY25 stood at ₹343 Cr, reflecting a 36.1% YoY increase from ₹252 Cr in 9M FY24. Similarly, PAT was ₹260 Cr, showing a 32.7% rise/drop from ₹196 Cr in 9M FY24.
• Operational Metrics & Key Ratios (Q3 FY25 vs Q3 FY24): Net Profit Margin increased to 21.9% in Q3 FY25, up from 19.6% in Q3 FY24. NSDL became India's first securities depository to reach ₹500 lakh cr. in assets held in custody as of September 2024.
• Growth Outlook: NSDL’s growth outlook remains strong, driven by robust performance in its depository and banking services. The company’s market leadership, coupled with the milestone of ₹500 lakh crore in assets under custody, positions it well for future expansion. The upcoming IPO, approved by SEBI, will increase visibility and offer liquidity through the sale of shares by existing stakeholders, although NSDL will not receive any proceeds from the offering. This move is expected to enhance investor confidence and attract institutional interest, providing a solid foundation for continued growth and market presence.